Global Blind Spot Solutions Market is expected to rise to an estimated value of USD 25.92 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the rising incidences of accidents caused with heavy commercial vehicles due to their inability to view the vehicle’s blind spots along with increasing utilization of these systems in premium vehicles.
Market Definition: Global Blind Spot Solutions Market
Blind spot solutions are the collection of components, software, that are combined to provide better visualization of the vehicle’s blind spots whether they be on its side or the rear. These solutions combine all of the components to provide drivers better prevention measures informing them of any obstacles, vehicles, pedestrians or motorbikes in their blind vision. These solutions are provided with a combination of information generated from radar sensors, infrared sensors, cameras, and various other components.
Key Market Competitors:
Few of the major competitors currently working in the global blind spot solutions market are Robert Bosch GmbH; Continental AG; DENSO CORPORATION; Valeo; Aptiv; Magna International Inc.; Ficosa Internacional SA; Autoliv Inc.; ZF Friedrichshafen AG; Gentex Corporation; Samvardhana Motherson Group; Murakami Corporation; Renesas Electronics Corporation; HYUNDAI MOBIS; SAMSUNG ELECTRO-MECHANICS; SL Corporation; STONKAM CO.,LTD.; WABCO; HELLA GmbH & Co. KGaA; Ambarella Inc.; HARMAN International; Muth Mirror Systems, LLC; VOXX Electronics Corp. and Mobileye among others.
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- Rising strictness regarding the regulations of vehicle and driver safety requiring advanced technologies and solutions; this factor is expected to drive the growth of the market
- Rising usage of advanced mirrors which result in better visualization of the rear and side of the vehicle; this factor is expected to drive the growth of the market
- Rising demand from the consumers for effective vehicle safety offerings; this factor is expected to drive the growth of the market
Segmentation: Global Blind Spot Solutions Market
By Product Type
- Blind Spot Detection (BSD) System
- Backup Camera System
- Park Assist System
- Surround View System
- Virtual Pillars
By Technology Type
By Distribution Channel
- Original Equipment Manufacturers (OEMs)
By Electric Vehicle (EV) Type
- Battery Electric Vehicle (BEV)
- Full-Cell Electric Vehicle (FCEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
By Internal Combustion Engine (ICE) Vehicle Type
- Passenger Cars (PC)
- Light Commercial Vehicles (LCV)
- North America
- South America
- Middle East and Africa
Key Developments in the Market:
- In January 2019, HARMAN International announced the launch of a new set of technologies and systems specially designed for ADAS applications in vehicles at the CES 2019, held in Las Vegas, Nevada, United States from January 8-11, 2019. The company is focusing on developing more advanced technologies in collaboration with various other established technological leaders to provide a collection of sensing solutions
- In December 2018, Ambarella Inc. announced the launch of their “CV22AQ automotive camera System-on-Chip (SoC), which will be combined with their CVflow computer vision architecture for effective DNN processing. The offering will be applied for in ADAS camera, in mirrors for BSD, interior cameras, and also with Monitors for park assist. The product is designed to meet NCAP requirements for lane keeping, AEB, headlight control and also speed assistance
- In September 2018, Ficosa Internacional SA in collaboration with AUDI AG to develop the world’s first digital rear view system specially designed for operations within AUDI’s e-tron models. The system known as CMS (Camera Monitoring System), combines cameras and display monitors for replacing the side mirrors. This is a major step in the advanced technologies integration for the automotive industry
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